Eating runes will increase the cool down. Its a delicate balancing act between increasing a Combat Art's effectiveness and keeping the cooldown time manageable.Item bonuses are a better way of doing this rather than eating the runes.

This is where the trick is and why I suggest eating tons of runes. Shadow Step is also largely an end game Combat Art. By about 100-140 you'll start to see how much fun Shadow Step can be. The important thing to keep in mind is that Shadow Step has a Cooldown AND Regeneration Time. These are two separate and very different timers that you must try to reduce on Shadow Step. Cooldown can not be affected by any item modifier whereas Regeneration Time can. The only way to reduce Cooldown is by increasing the level of Shadow Step and at very high character levels the Cooldown will decrease by 0.1 seconds only every several Shadow Step levels. It's a very tough Combat Art to reduce the total regeneration on because of it's Cooldown but the capabilities it has are quite worth it. It's by far the most unique and coolest Combat Art in my books.

Too bad that the name bolting terror is already used. We are currently playing a pure arcane elf to test out modified horse-Combat Art's. I modified them a bit to be useful but not overpowered. So for the balancing we created a pure arcane elven rider. I think I will name the build 'Lady in Black'.
Wearing the black arcane set and wielding the tiny energy gun from 'Men in Black.

It is, well at least to the point that you had it performing at. I don't think I have the patience you do to wait for a "hunch" to pan out. I never would have guessed that the amount of damage your build can manifest in servers is possible from Shadow Step. I've given it a bit of a go with my own latest dallying with the High Elf. My gut would never have pointed me in the direction your hunch took you into creating an entire build from that CA.

I'm curious about this build, since I am planning on playing a hybrid Arcane/Fire melee exploding teleporter.

What type of damage does the Shadow Step "explosion" do - Fire or Magic?
Does Arrant Pyromancer Lore, Ancient Magic, and/or Combat Discipline increase the damage?

Is the character file for Ice & Blood? It seems like it is, which is sad for me since I don't think Sacred 2:G is or will be released here. Might get me an imported UK version eventually, but haven't yet.